|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||35.42 - 35.69|
|52 Week Range||28.51 - 36.27|
|Beta (3Y Monthly)||0.41|
|PE Ratio (TTM)||13.43|
|Forward Dividend & Yield||1.90 (5.31%)|
|1y Target Est||2,012.00|
Guy Miller, chief market strategist at Zurich Insurance, says support for Brexit showed most British voters didn't believe in the EU.
Cyber insurance, which covers losses emanating from loss of data as well as liabilities arising from cyberattacks, has recorded strong growth globally over the past four years, Moody's Investors Services said in a report last week.The rating agency said it was a highly profitable business line for global insurance companies. "The proliferation of new rules around the globe boosts demand for cyber insurance, but also raises questions and highlights uncertainty around the scope of insurance coverage," said Sarah Hibler, Moody's associate managing director.According to the report, based on US financial regulatory data, direct cyber insurance premiums grew to US$2 billion last year, or a cumulative annual growth rate of 26 per cent since 2015.In Hong Kong, while the Insurance Authority does not have data for cyber insurance, Zurich Insurance and Peak Re have both seen strong growth."It is true that we see a lot of interest from insurance companies across Asia in growing their cyber business," said Franz Josef Hahn, chief executive of Peak Re, Hong Kong's home-grown global reinsurance company.Franz Josef Hahn, chief executive of Hong Kong reinsurance company Peak Re. Photo: Edmond So alt=Franz Josef Hahn, chief executive of Hong Kong reinsurance company Peak Re. Photo: Edmond SoZurich Insurance offers several products, including cybersecurity and privacy liability policies for commercial clients. It also offers two cyber insurance products targeted at small and medium enterprises."We do see growth potential in this area in coming years," said Eric Hui, chief executive of Zurich Insurance (Hong Kong).A key challenge insurers face is potentially huge claims. In the United States, the average cost of a cybercrime was about US$27 million last year, up from US$21 million in 2017, according to a report sponsored by Accenture Security. The claims are high because a single cyberattack might affect many clients, a situation that will get worse when companies move to cloud computing, the Moody's report said.Eric Hui, chief executive of Zurich Insurance (Hong Kong). Photo: Xiaomei Chen alt=Eric Hui, chief executive of Zurich Insurance (Hong Kong). Photo: Xiaomei ChenIn Hong Kong, insurers might also find it difficult to sell policies to small and medium enterprises."Hackers might target large companies and not SMEs. I do not have any cyber insurance cover currently, nor do any of my friends," said Arthur Chan, director of SagaDigits, a Hong Kong start-up that uses big data to help consumer companies enhance their services."I will consider buying cyber insurance products if the price is reasonable. However, I have not received any cold calls from any insurance company introducing [cyber insurance] products to me. If they do, I may consider them if they are not too expensive," he said.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
Zurich Insurance is on track to meet or beat its financial targets to 2019 and is seeing positive trends in property and casualty (P&C) insurance pricing. Europe's fifth-biggest insurer made the forecast on Thursday despite a 2 percent fall in P&C gross written premiums in dollar terms to $9.18 billion (7.06 billion pounds) in the first quarter as a result of currency movements and the disposal of its ADAC business. Prices increased around 2 percent, Zurich said, adding that it had been a "relatively benign" quarter for natural catastrophes although it gave no profit figures.
The U.S. Department of Justice (DOJ) said late Thursday that Zurich Insurance will pay a penalty of $5.1 million (£3.9 million) to the United States in a case involving insurance policies and accounts used by U.S. customers to evade taxes. "From Jan. 1, 2008, through June 30, 2014, Zurich issued or had certain insurance policies and accounts of U.S. taxpayer customers, who used their policies to evade U.S. taxes and reporting requirements," DOJ said in a statement. "Zurich had approximately 420 U.S. related policies...with an aggregate maximum value of approximately $102 million, for which the U.S. taxpayer customers did not provide evidence that they had declared their policies to U.S. tax authorities," it added.
Zurich Insurance Group (ZURN.VX), one of the largest global insurance companies, and CoverWallet, the tech company that is the easiest way to understand, buy, and manage business insurance online, today launched a platform for small and medium-enterprise (SME) insurance in Switzerland. The expansion marks the second European country where the online platform is available, building on the momentum of the release in Spain in 2018. “Thanks to the partnership with CoverWallet, we offer small businesses a new type of easy-to-deal with online insurance coverage.
This means the following stocks have a price-earnings ratio, which is the inverse of the earnings yield, of 21.88 or less. Warning! GuruFocus has detected 1 Warning Sign with TOT. The stock was trading around $56.91 per share on Thursday for a market capitalization of $148.36 billion.
Zurich Insurance announced a dividend increase on Thursday following a 24 percent jump in annual profit, and said that would set a floor for future payouts. Europe's fifth-largest insurance company said its cost savings plan was on track and business operating profit (BOP) rose 20 percent last year to $4.6 billion (3.6 billion pounds), driven by underlying growth across the business, particularly in life, and underwriting improvements in property and casualty. "I expect top line to be pretty flat in 2019," finance chief George Quinn told reporters.
Zurich Insurance Group AG said on Thursday it has named Drazen Jaksic as head of Accident & Health Underwriting. Jaksic previously worked at rival insurance company Chubb Ltd as a senior vice president....
Investing in international companies is one of the hallmarks of building a diverse portfolio. Not only does it give investors access to key foreign markets, but it’s one of the main ways investors diversify ...
Zurich Insurance (ZURN.S) is on track to achieve its financial targets for the 2017-2019 period, the Swiss insurer said in a statement on Wednesday ahead of its investor day. "Zurich Insurance Group is fully delivering on its 2017-2019 financial targets, having restored management discipline and efficiency," the company said. "We are fully delivering on the financial targets that we set out back in 2016," said Group Chief Executive Officer Mario Greco.
Moody's Investors Service ("Moody's") has affirmed the A2 insurance financial strength (IFS) rating and the Baa2 (hyb) surplus note rating of Farmers Insurance Exchange, a reciprocal insurance exchange and the lead member of Farmers Insurance Group (Farmers). In addition to Farmers Insurance Exchange, Farmers encompasses Fire Insurance Exchange, Truck Insurance Exchange and Mid-Century Insurance Company, among other affiliated insurers.
Zurich Insurance Group (ZURN.S) does not need a big acquisition nor does a merger with a large rival make sense, Chief Executive Mario Greco said in an interview published on Tuesday in Finanz und Wirtschaft. "I do not think it is sensible," Greco told the Swiss newspaper. While he expected consolidation in the fragmented insurance industry, he sees "absolutely no advantages to a merger among giants".
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